R. Kelly hit with foreclosure on mansion

Topics: News ,; Celebrity

R. Kelly, Feb. 19, 2011, in Los Angeles.

(Credit: Getty)

(CBS/AP) He was trapped in the closet. He believed he could fly. Now he's in foreclosure. Grammy winner R. Kelly faces a $2.9 million foreclosure on his suburban Chicago mansion.

A Crain's Chicago Business publication reports that JPMorgan Chase Bank filed the foreclosure lawsuit last month. The complaint states that Kelly hasn't made monthly mortgage payments since June of last year.

Crain's reports the Olympia Field home's appraised value fell 26 percent in a year, to $3.8 million in 2010. The original 1999 loan was for $3.5 million.

The principal due is more than $2.9 million.

The R&B superstar's spokesman Allan Mayer declines to comment on the foreclosure. But he tells The Associated Press that Kelly isn't having financial trouble.

Mayer says the singer now lives in Chicago. Mayer says Kelly's recent tour and 2010 album, "Love Letter," have been successful.

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by Jhihmoac July 12, 2011 5:30 PM EDT: I hear that some all over the country living in these type of houses haven't paid on their mortgages in months, or even years...Their properties are now worth less than the agreed bank note, and there's little or no market for these places...Eventually it catches up to the homeowner, though...; Reply to this comment